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India’s economy seemed to have expanded at its slowest pace in at least eight years in the first quarter. Weak growth was partly from the government’s efforts aimed at containing the further spread of the novel coronavirus.
Asia’s third-biggest economy ran slower than its recorded pacing in 2019 as the implementation of a countrywide lockdown curbed economic growth completely. Fifty-two economists rendered a reading of 2.1% growth in the first quarter. It placed under the 4.7% record monitored three months earlier as it came to be the weakest figure since 2012.
Gross domestic product outlook is due on May 29, with speculated growth ranging between 4.5% and -1.5%. The dire prediction underscored widespread uncertainty brought by the deadly respiratory disease as it continues to bring more economic disruptions.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
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